Editors' Blog

However despite the drop, BMO economist Robert Kavcic noted that residential construction is still running at “a healthy clip” with the average for 2011 down only fractionally from the robust pace set in 2010.

“Canadian housing has performed much better than expected this year, no doubt helped by still-low interest rates and firm (but moderating) job growth,” Mr. Kavcic wrote in a note to clients.

“Looking past the dip in August starts, the bigger picture is that Canadian housing remains quite healthy.”

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